Question
Dougie has $200,000 of QBI from his clothing store (a sole proprietorship). His proprietorship paid $30,000 in W-2 wages and has $20,000 of qualified property.
Dougie has $200,000 of QBI from his clothing store (a sole proprietorship). His proprietorship paid $30,000 in W-2 wages and has $20,000 of qualified property. Dougies spouse earned $50,000 of wages as an employee, and the couple earned $20,000 of interest income during the year. They will be filing jointly and take the standard deduction of $24,800.
Determine their QBI deduction for 2020.
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Managerial Accounting Creating Value in a Dynamic Business Environment
Authors: Ronald W. Hilton
9th edition
78110912, 978-0078110917
